TomM

How much would you sell it for?

70sSanO

In 30 years it will be unridden NOS and may be the only one. Wait and sell it for double.

John

PeteHski

That wasn't my point. It's all about opportunity cost. Not many people actually want to put $15k into a bike when they could use the cash for something else that they want more. It would be different if this was the dream bike that you would have bought had you won a $15k cash prize. But that would actually be quite a coincidence. Do you see what I mean?

It's like winning a car. If it's not the car you wanted or aspired to owning, then you would just sell it right?

cb400bill

Please, let's remember that no buying or selling offers are allowed outside of the Marketplace.

Iride01 

You might see if there are any amateur cycling competition teams for very young adults and older teens and see if there are any in need of a good bike. Some youth and young adults really struggle to get good bikes since they don't have their careers yet to have a decent income.

Maybe ask at some of the bike shops if they know of any or check on the dreaded FB or what ever it is now.

njkayaker

??? He didn't put $15k into anything.

If it's such a problem winning the thing, why even take a chance?

Clearly, a $15k cash prize is more valuable but that wasn't the prize (so, it's irrelevant).

Giving a $15k bike away didn't cost Specialized $15k.

It the prize isn't what you want, don't enter the contest. You already know it's not your "dream bike".

No, not necessarily. Given that it's a free car (outside of taxes), many people might just keep it. Keeping what you win only if it's exactly what you want isn't the only option.

Cars are a different thing away since there is a well-established market for second hand ones.
​​​​​​

bvachon29

Hey all, thanks for the feedback thus far. To clear some things up, yes I will need to pay taxes on the bike. The bike is extremely cool but just isn't what fits my riding needs right now. Had I won the S-works epic that was in the sweepstakes, this might be a different conversation. My thought was if I'm not going to use it (although it looks really nice in my makeshift home office at the moment) why not give someone the opportunity to purchase it that would actually use it.

njkayaker

Selling it is a reasonable option. The issue is that it's a PITA to do and you won't get close to $15k for it. If you can clear a significant amount over your cost (tax), then you might be doing OK. (One way of looking taking a loss on $15k but making money that you didn't have.)

As somebody suggested, ebay might be the best option.

bvachon29

For sure. I got over the fact I'm not getting 15k pretty early on, as much as I'd like that to be the case. One thing I am curious about, if anyone works at a Spec dealer and is willing to share, what the dealer cost of this bike would be to use as a starting point as like it's been said, no one is probably going to pay retail for it.

bvachon29

PM sent.

njkayaker

I doubt you'll get that information. Supposedly, the markup for bikes is low. Maybe, assume it cost them $10k.

Obviously, the bike is going to be worth more to somebody looking for the "exact" bike but that person is going to be hard to connect to.

Your market is more the person who really wants a "blingy" $15k bike but can't really afford that much.

njkayaker

These people are likely to crash and trash the $15k bike. No amateur needs a $15k bike.

He should sell it instead.

GhostRider62

Put it on eBay with a Buy It Now price of $12-13,000 and it will sell very quickly.

Check out what used versions of this bike have sold for.

Iride01 

I'm hoping the OP gives it away. It didn't cost them anything. Why not pass it on and make some other's day just like winning that bike must have made the OP's day.

GhostRider62

Because he owes taxes on it. Depending on his tax bracket, it would be in the $3-5,000 range. So, it is not free.

njkayaker

I suspect it would be kind of a curse for an amateur team (especially, if it’s kids). If the team managers had any sense, they’d sell it and put the money into something worthwhile.

The OP has to pay tax. So, it's gonna cost him something.

Mojo31

I certainly wouldn't give it away. Lottery winners never give their winnings away, and I suspect that if those suggesting that OP give the bike away won the lottery, they would not give the money away either. Easy to be "righteous" when it is not your money or property you want to give away.

Iride01 

I guess I'm not as stingy as y'all. I have no idea what the OP's income and net worth is, but does everything have to have to be balanced by dollars in and dollars out? If taxes are a concern, then there are other places the bike can be donated to that will give the OP a more favorable tax position than just giving it away to just anyone.

But being like Scrooge counting every penny isn't going to make happiness.

njkayaker

Yes.

It would be different if giving it away would be useful/efficient.

If he really wanted to donate something, he should sell it to cover his tax cost and then donate the excess.

Donating the bike is like donating a Porsche to some one "in need" (it's bizarre).

bvachon29

Anyway, I feel that this has gotten a bit off track. If anyone has some recommendations for facebook groups, other forums, shops, etc. to use as an outlet to sell or have had good luck selling through, just let me know!

njkayaker

The big problem is that it's a dumb thing to donate.

Your assumption that a $3000 tax bill is "counting every penny" is interesting.

njkayaker

Put it on ebay with a reserve** of $8500 (or whatever) and really test it.

The idea is to be able to possibly sell it for more than your minimum.

Ebay is a common place to sell bicycles.

Take care to note your ebay costs and the cost of packing and shipping it (make shipping costs extra).

With tax and shipping, the bike will end-up costing the buyer (at the reserve) of about $9,300.

People bidding for stuff are strange. You might get close to those numbers.

============

** The reserve indicates the lower limit for a winning bid. If no bids reach that number. the item doesn't sell.

livedarklions

Hey, is this one of the bikes that just got recalled?


https://www.cpsc.gov/Recalls/2022/Sp...Injury-Hazards

GhostRider62

Trust me, your very best way to sell it is with a BIN on e-Bay. When a buyer does a buy it now, they have to pay immediately. If it does not sell at your price, you can lower the BIN price. Do not do a Best Offer. These have been selling for $12-13,500....lightly used.

Flip Flop Rider

best route. Sell it for half of what you think it's worth